Former ANAC Boss Secures over N19.5tn Investment Pledges for Nigeria

Sunday Ehigiator

Former President of All Nigerian-American Congress (ANAC), Amina Temitope Ajayi, popularly known as “Mama Diaspora,” through her firm, Silicon Valley Nigerian Economic Development Inc. (SVNED), attracted over $19.4 billion (N19.5 trillion) worth of foreign investment pledges to Nigeria on the side-lines of the 78th Session of the United Nations General Assembly (UNGA) in New York.

In a joint statement from the partnership released after the signing of the Memorandum of Understanding, three investors, CITCO Global Holdings, Global Expansion AXIATel, and Allen Le & Partners International Vietnam, all pledged to invest $5 billion, $3.2 billion, and $11.2 billion, respectively, in the development of various sectors of the Nigerian economy.

The sectors included tourism, aviation, technology, telecommunications, agriculture, entertainment, sports, and energy industries.

Speaking on the partnership, the SVNED Chief Executive Officer said, “The economic summit in New York also provided an opportunity to amplify the need for additional support for the United Nations Sustainable Development Goals.

“Particularly, Goal 8; which prioritises sustained inclusive and sustainable economic growth, full and productive employment and decent work for all.

“It also speaks to Goal 9, which supports the need to build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation. More importantly, this investment also promotes SDG 17, which talks about strengthening the means of implementation and revitalising the Global Partnership for Sustainable Development.”

Speaking on behalf of Global Expansion AXIATel, Morgan Martinez said, “Global Expansion AXIATel, in Partnership Silicon Valley NigeriaEconomic Developments (SV-NED Inc/SV-NED Nig Ltd) and Global Connections for Women Foundation GC4W Org, through our organisation and sister organisations, we will be bringing a $3.2 billion investment to Nigeria while at the same time developing the tourism industry, aviation, industry, technology and telecommunications, agriculture, entertainment, sports, and energy industries.”

President and Chief Executive Officer of Allen Le & Partners International Vietnam, Kingsley Onyeocha, was also quoted as saying, “Allen Le & Partners International Vietnam in Joint Venture with SV-NED Nigeria Limited proposed to invest up to $11.2 billion in the areas of Eco-Friendly Transportation, including Electric Vehicle Assembly Plant and Batteries Plant, 2:1 Solar Megawatt Agric Project, Mining and Affordable Housing Projects.”

The partnership was projected to develop the aforementioned sectors and improve the country’s strained economy while creating massive employment opportunities for the youth.